Saturday, December 31, 2011

What else you got? New single family home listings go missing at the end of December

Our buyer clients usually have nothing to look at this time of year but the snow.

The snow storm of 2011: Photo Eric Rojas, Realtor/Broker

Only one true, new single family home listing hit our MLS (MREDLLC.com) on this last week of December in four (4) of our target North Side Community Areas of: Lincoln Park, Lincoln Square, Lake View and North Center.

We feel if you'd like to sell your home you should list the home as soon as you can get it show ready and at the best market price possible. It's true sellers may have many distractions over the holidays, which, also makes it hard to keep the home "show ready". But the lack of homes being listed has more to do with the prevailing perception that there are NO BUYERS at this time of year. That is not the case. People need, or, would like to buy homes all year round for any number of reasons and will purchase if the price is right for them.

It's a self-fulfilling prophecy. Sellers see more home sales close in the spring and summer months. People buy and close in the spring and summer months because sellers wait and offer more homes at that time. If the market priced homes were listed for sale spread out evenly during the calendar year, I suspect home closings would be more spread out too. There is also an irrational notion you'll have a better chance of selling your home simply by listing in February rather than in January.

My wife and I viewed this Victorian home in January a couple years ago...one of few available listings.

Price and economic market conditions will determine the sale of your single family home- not the month you list in. Serious single family home buyers are out there right now and they will jump on a well priced house... right now.

Sold! North Center Land for Sale: Coonley School District $190,000

Real Estate Broker and Author of this Blog

I am a Chicago real estate broker who began writing this blog in 2005. My group represents clients buying, selling and renting properties. I've been awarded Top 5% in sales volume for Chicago Association of Realtors every year from 2006-2015. Thanks for reading and working with us!
All posts and photos are by Eric Rojas and Bob DePalma unless otherwise noted. Contact us at erojas@kalerealty.com for great service!